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... in today's cover story..... blocked. the merger between us airways and american airlines is stopped short by the government. and....with his wild days behind him, how a punk rock star is helping entrepreneurs sing a new tune. plus...a rollercoaster of a stock. why investors are on high over jcpenney. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's wednesday, august 14th.i'm angela miles. in today's first look: stocks on the rise..for the second session in a row-- apple shares headed higher on word billionaire carl ichan has a large stake in the company. the rest of the market rallied as well on comments from a fed president the economy is still to uneven to end the fed's bond buying program. gold gave up $13 dollars and oil pushed up 40 cents.a seaworld nose dive.the stock fell 12% to $32 dollars on disappointment from it's first earnings report since it's ipo in april. the company missed on revenue and reduced its outlook because of lower attedance at its theme parks.and bp is suing the government.the
joins us this morning. good morning lincoln. > >good morning. > >the nasdaq notched higher yesterday. will there be follow through today or will it be a selloff? > >it looks like of the three major markets it's the most perky as we've gone through the august doldrums. technology is still a very growth oriented part of this market and investors are looking for that growth portion of the market at this stage of the game. so that market itself finds a bid. > >you see reasons for that to rally. what about gold? there's been a rally in that market as well. > >breaking out of a trading range that its been in for the last six months. pushing all kinds of gold and commodity related instruments down, in particular, the gdx---the gold miners now breaking above 1300 for the first time in some while. dragging a lot of those long supressed parts of the market back up with it. > >it's an options expiration week and yet i'm sensing a lot of traders are on vacation this week. > > [laugh not just a lot of traders here in chicago but in new york and as you know most of europe has been on vacation for
down its local news sites, called patch. scott shellady of trean group joins us on this monday morning. happy monday morning to you, scott. - good morning. - how critical will the inflation numbers and retail earnings this week be to traders? - it's going to be very critical with the fed's dual mandate. we have to keep an eye on inflation. i don't think we've got inflation. i think we've got disinflation. bernanke mentioned that in his last speech. something to watch going forward - we actually might be in a deflationary cycle, so, keep your eyes glued to the inflation numbers. - china plays were popular last week with people buying the metals because of some growth in china. what will be your play this week? what do you see happening here? - i tell you what, i think you should stay away from china. china leads us in manufacturing. only one thing - their economic numbers. really, them in manufacturing - everything else, just by a hair. so be careful about china. at the end of last quarter, three of their largest banks shut down their atms over the weekend. you couldn't take any money o
the treasury is finding a home. it's getting used to tapering, the expectations of tapering and at some point we're going to find a home somewhere between 2 1/2 and 3% > >larry, thanks as always. have a good one. > >you're welcome. the plunge in india's currency has become a free-fall. the rupee, in case you've forgotten from "slumdog millionaire" has lost 15% of its value against the dollar since may.our cover story dives in and tries to catch up with the cause of it all. it now takes more than 63 rupees to match a u-s dollar. three months ago, it was 53. headlines ask: will the slide continue?it's got some half-joking that the currency's new symbol includes a slash across its throat. but it may also be the global impact of the federal reserve. "what's going on is the u.s. since we are the largest economy, as we go, other countries often go." as the federal reserve bought bonds, keeping interest rates low in the u-s, a lot of investors took their money to the international bond market. instead of 2% interest on u-s treasuries, you could get 5% in indonesian bonds and 7% in indian bonds. now
" at the box office. michael gurka of chicago-based spectrum asset management is with us this morning. good morning, michael. i'm wondering what you're thinking about the trading volumes out there. we've hit some lows this week. - yes, actually it was rather impressive yesterday to start seeing the market give back a little after we put in those all-time highs last week. and in particular, there were a couple of things that happened in the market that show that we're getting some - not even referenced as a healthy correction - but certain components of the market that we expect to fall in place that are, and that is the way that the 10-year treasury is trading inversely to the stock market, and in particular, also, the commodities complex. you're starting to see some of this easing off of prices in precious metals, and, of course, in oil, and they're all coordinating themselves, i think, very well with the u.s. dollar. so, to put it first, it's the equities coming off those highs, and i think that that is actually anticipated, but i would not look for that to be prolonged, at least just yet
is affecting u.s. crops. you're watching first business: financial news, analysis, and today's investment ideas good morning! it's wednesday, august 28. i'm angela miles. in today's first look: the market in crisis mode over syria. the volitility index raced up 12%.. as fear and anxiety strike stocks. the dow plunged in a triple digit fall. the nasdaq had its worst point drop of the year.. and the s&p broke through technical support. gold futures pushed up $23 and oil spiked close to $109 dollars per barrel. jcp posted a record trading day with near 100million shares changing hands. it follows a report-- activist investor bill ackman sold his entire stake the retailer. the stock closed down 18 cents around $13.00. and walgreen is accused of overcharging customers and using false advertising. the lawsuit was filed yesteray by the attornery general of missouri. walgreen will fight the charges. for more on the market reaction to syria, larry shover of sfg alternatives joins us. good morning larry. what is the market telling us about the situation. > >the market is saying they don't know what
and u.s. airways are gearing up for a courtroom battle to prove the merging of the airlines won't hurt consumers. the government is blocking the deal with a lawsuit. todd horwitz joins us now, he's with average joe options. good morning and there has been some selling in this market my friend. > >good morning angie. yes there has been some selling. very muted. if you take a look at the bigger picture we're really range bound between 1680 in the s &p on the downside and 1700 on the upside. and in the last nine days, we have not violated either side of that. so, although it feels busy we are lacking volume and volatility. yesterday was a little bit of a selloff but it certainly didn't get carried away, it certainly wasn't done on any real volume or any real panic. > >and you're my bear on the show so that sounds like a mild situation to me. moving into inflation---some inflation numbers came out yesterday. we also heard from the fed president saying that we might see some runaway inflation in the distant future perhaps. what do you think? there was a bit of a move in gold yesterday. > >g
....deconstructing the latest manufacturing data.... plus.... trump under exam-- a u.s. attorney gives "the donald" failing grades for his business school. and...worried about the stock market? one money manager recommends--a cup of coffee. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's tuesday, august 27th. i'm angela miles. in today's first look:market moving comments... stocks fell yesterday on ramped up rhetoric from secretary of state john kerry calling syria's actions inexcusable following a chemical attack. also-- treasury secretary jack lew says the u.s.government will hit the debt ceiling by mid october unless congress votes to increase the limit by the end of the session the dow fell below 15,000 --losing 65 points, the nasdaq was unchanged and s&p dropped 7. gold crossed the 1,400 dollar mark and oil is trading around 1-0-6. jc penney's acking stock.shares fell monday on word hedge fund manageer bill act-man is selling 39 million shares. he's the single largest share holder in jcp. tony harris of performance t
the day off. in today's first look: most u.s. stocks fell on word that the fed is closer to curbing quantitative easing. the dollar dipped slightly, but the nasdaq gained. the dow finished the day down 46 points, s&p down 3, and the nasdaq up 3 points. gold dropped slightly, but stayed above $1300. the washington post is being sold to jeff bezos, founder of amazon.com, for $250 million. the deal includes all of the post's newspaper and media assets except slate and foreign policy. american eagle nose dived 16% after the teen clothing retailer cuts its second-quarter outlook in half. abercrombie & fitch also fell. better times in july from 16 non-manufacturing industries in the u.s. - everything from arts and entertainment to retail, transportation and warehousing. glen schultz of performance trust joins us to help sort it all out. hi there, glen. - hi, how are you? - i'm doing all right, and i'd like to know, the rate for the non-manufacturing sector seems to be accelerating. how is this happening if job growth was just 162,000? - one of the things that we saw at the beginning of th
delivering a strong earnings forecast. ben lichtenstein of tradersaudio.com joins us now for trader talk. good morning. will we continue to feel the syria effect in the market today? > >i think so. if you look at yesterday's activity, the market tried to get a bit of a bid going throughout the day session trade. but around the middle of the day, we started to sell off a bit---unable to get into new low prints. don't get me wrong---it wasn't that weak but just unable to hold the rally if you will but for the most part what i've been noticing in terms of this downside activity that we've been seeing off that 1700 level in the s &p's. just very little rejection of these lower levels. what we have been seeing on that slow steady grind higher was every little bit of a retracement, every pullback was met with strong by side activity and we're just not seeing that right now. i think that's the fear factor at play. > >what about oil? what are the highs here? > >talk about fear factor at play. 112 yesterday---in the overnight leading into yesterday morning's trade. didn't quite get up there durin
cyber threats... rising conflict with syria has u.s. banks on guard. in today's cover story... a staggering amount of cash is flooding the housing market... and...it's a hit! the inspiring story of a group of nuns who are rocking the music industry. plus... the retail risk. why our traders say its a tough time to shop for stocks. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's friday. august 30th. i'm angela miles. in today's first look: stocks on edge! the situation in syria will serve a back drop to trading today.. yesterday-- the market staged a modest rally as new data shows the economy is growing faster than thought and the labor market is improving as well.the dow, nasdaq and s&p all gained.. gold fell $12 to 1,407. oil down $2.15 to $107. sales force soars - the stock rallied more than 7% after hours on stronger than expected earnings at the software company. and a jump at the pump-- as we head into the the labor day weekend.. gas prices are up 3 cents from a week ago to $3.56
support form cit. mark sebastian of option pit mentoring joins us on this thursday morning. good morning mark. we are now post that fed meeting. did traders get any clues about tapering? - you know, not as much as they would like. in fact, if anything, the fed brought more variables in bringing up inflation this time. i think the only thing the fed really let us know is that the fed is a little less confident in their ability to really keep control of this thing than they thought they were. - we had a surprising number coming in with that adp number: 200,000 jobs added to payrolls in the month of july. what does that mean for the jobs number on friday? - you know, the jobs numbers have been trending up. i think the market wants good but not great so that the fed doesn't have to stop tapering. - let's do some stock talking now. what about visa and mastercard and some of these credit card companies coming in with earnings? - they lost a really obscure court case yesterday, and they got spanked for it. visa had the worst day it's had in over two years. mastercard gave away a 20+ point gain
. and most were drinking budweiser. mark sebastian of option pit mentoring joins us now. let's get down to it. what is happening with this selling spree? what's going on? > >the 10 year is the dog that's wagging the entire market's tail. the 10 year beagn to really sell off yesterday morning and that drove all the markets. it drove gold, the s &p 500. we saw the vix rally as well. all in all an ugly day yesterday. > >what about silver and gold. especially slv and gld were the talk of the town yesterday among commodity traders. > >it was really interesting. part of what happened with the 10 year---besides the taper talk---there's some small underpinnings of inflation. if we get some inflation, that's the one thing that can cause gold and treasuries to really move opposite of each other, which has been not the trend as of late. they've been moving together up until recently. > >today is an options expiration day. what will that bring to the market? > >i think we could see all kinds of crazy stuff. especially if today ends up being like yesterday. if that's the case then look out---things could
. u.s. officials will likely debate "when" to start wrapping up the monthly bond buying program that has been stimulating the economy. fed chair ben bernanke is not attending this year's summit due to a scheduling conflict.his term expires in january. president obama says america's colleges need to be more accountable for the value they provide students, their families and taxpayers. but as our cover story explains---he left open precisely how that value is measured. in buffalo, new york, president obama said rising costs are making college out of reach and a disturbing national trend reflects that---student loan default rates have now climbed above 9%--the highest it's been in 17-years. "bottom line is this, we've got a crisis in college affordability and student debt." so the president proposed the following reforms: first, a federal college value rating that could be tied to federal funding. second, the president wants to better prepare students for the global economy. but some fear that may curtail long-range thinkers in favor of short-term fixers. "we will essentially just
dell's effort to take over the company. scott shellady of trean group joins us on this friday morning, and of course the jobs number is due out today. scott, what do you think we're in for? - well, if you're a taper tiger, you better hope for a big one, because that will supposedly put some pressure on the fed to start tapering in that september-october time frame that most people have been talking about. i think the fed has said over and over they're data-dependant, so i think you're going to have to see something really good to change that unemployment rate from 7.6% to something much healthier. so, i think right now we're going to be around that 200 range, which was the adp number. i think that's fair. but let's just see if that comes through. and then gdp, we're not doing too well there. - what is the stock market, though, telling us about the economy? - the stock market's had a dovish fed speak a couple days ago. yesterday, draghi was also seen as dovish. that's given a boost to the market with "accomodation." then we've had a couple things trickle across the tapes that haven't b
is warning owners to stop using the tractors immediately. the tractors were sold nationwide from february to july. michael gurka of chicago based spectrum asset management is on the show with us this monday morning. happy monday to you michael. > >thank you. > >we have a lot coming from the fed this week. fed minutes and the big jackson hole meeting with the fed heads. will that hold the market in a pattern today? a holding pattern. > >i don't think it will. actually i think that the anticipation that this week's meeting and a lot of the vernacular is going to add to volatility in the market. and of course we're looking at 10 year treasury yields in particular as they breached 280 and showed us at least that though the growth of the country might be stalling on main street the markets believe that something's alive because we've started to see downward pressure all of last week. and it was reciprocated of course by the way the stocks traded along with that. > >those treasuries are at a high we've not seen since 2011. can this persist? > >i think we will see more of that but to the point t
of 7, 8%. we really didn't see that yesterday. i'm going to take some off the table. the u.s. worker has not increased their wages, and i think that's their main market, so i'm going to take some of the table in priceline. - short stock? - i would definitely short it right now. - thank you, chris. jc penney reportedly is under pressure to find a new ceo. according to cnbc, hedge fund manager bill ackman wants the jcp board to name a new leader in 30 to 45 days. "i would guess that he's just trying to spike the stock so he can get at least somewhat out of his position. that's what i think he is trying to do, because otherwise, if he was actually trying to fix the company, this is not the way to do it." that was maragret bogenrief of acm partners. the news sent the stock 7% higher yesterday. shares recenly drifted to a year low of $12.50. a penney spokeswoman calls the demand for a new ceo "rumor and specualtion." penney has struggled to win back customers after losing ground under the management of former jcp ceo ron johnson, who came from apple. the retailer's sales plunged 25% aft
. > >you think the tapering will probably come a little sooner---maybe this fall. tell us why. > >i think the likelihood of a taper is much stronger than it was, even just a few weeks ago and there's two reasons: one----the numbers are actually a little bit better. while topline growth coming from the most recent earning reports from stocks are not that great, not very compelling you do see the unemployment reports getting better. weekly jobless claims have had successive weeks of improvement and the last couple of unemployment reports are getting stronger. so there are inklings that the economy might be getting a little better. that's one. the second is a rumor that i'm starting to hear circulate that bernanke is really looking out for his own legacy. and what i mean by that is if bernanke tapers befor he leaves office early next year, in other words taking the training wheels off the economy, and the economy takes off and it works he'll be known as the guy who started qe3 and then was able to stop it and started the economy going on the right foot. so i think he's looking out a bit for
-up anymore. and - 3d printers for the rest of us - they can save you some serious cash. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday, august 5th. i'm bill moller, in for angela miles. in today's first look: friday's modestly disappointing jobs numbers didn't spook investors much. the big indexes were mostly flat to modestly higher. the dow pulled out of a 69-point session low for a 6th straight week of gains. yes, another record. is anybody talking about the nasdaq? up 2%last week, 22% for the year. go tech! the s&p eeked out a sliver of a gain - and you can call it another record. gold followed volatility indexes down, along with oil, which was up for the week. big gains for social media last week. linkedin and facebook continues their post-ipo about- face. facebook shares again climbed above their original offering price, set more than a year ago. with mobile ad revenue climbing, the site is back in favor on wall street. and, ever heard of athlon energy? you'll wish you had. the texas oil and gas
by for us is todd horwitz of average joe options. tell me what's going on with the latest fed fretting in the market. > >good morning angie. you know the fed is involved and i think that they're overinvolved. i think yesterday's minutes showed us that they really don't know what they're gonna do yet either and i think the real problem is they're in a position where they have no way out. so taper or no taper---the market is being tapered by the bond market as you can see because interest rates are going higher on their own without the help of the fed even though the fed is trying to push them lower. the fed's got a problem and i hope that this week they can solve it in jackson hole. > >we did see the dow move below 15,000. was that any kind of buy signal there? > >i don't think we have any buy signals coming nearby. i think the key level you want to watch is 1640 in the s &p. the low yesterday was 1639--39. i think that's the level you want to watch if we're gonna get any buying. but i do believe we're right at the start of a potential correction here and i look for those numbers to eve
into compensation. whats been helpful for the u-s housing market is hurting bank employees. due to record low interest rates millions of mortgage holders have already cut their monthly payments and are on more solid financial ground. that has meant however considerably less stable conditions for the mortgage lenders working with troubled borrowers or homeowners who want to refinance. both j-p morgan chase and wells fargo have recently announced lay-offs affecting a total of 53-hundred mortgage lending jobs. a sudden dip in new home sales could be a sign higher mortgage rates are causing homebuyers to think twice before taking out a loan. sales of "new" single family homes plunged 13.4% in july. however-- those sales are up 6.8% compared to last year. the dollar amount banks have already spent defending bad behavior is reaching into the billions. the tab - so far - is reported to be $66 billion dollars -- as the nation's big banks to defend themselves in the wake of the 2008 meltdown. the money was spent on litigation in just the past three and a half years. the analysis was done by snl fi
fell. gold added 4 dollars and oil lost $1.04. and tracking u.s. tourism: visitors from other countries injected the economy with $87 billion for the first half of the year, a rise of 7%. todd horwitz of averagejoeoptions.com joins us on the show this morning. good morning, todd. - good morning, angie. - i want to know how you plan to make money on all of this taper talk. - you know, angie, i really believe that the taper talk is a bunch of just that - talk. i think the fed has backed themselves into a corner, and i don't think they're going to be able to taper, but the traders are showing them that they can taper without them, because they're still rising, making interest rates go higher. but i think the fed's got a real problem, and this could actually be the start of a sell-off in the market, because everybody is realizing that the fed has really backed themselves into a corner here. - what about some of the other central banks, such as the bank of england? that central bank also looking for unemployment to dip to around 7% there. - you know, they've all put themselves in the same si
Search Results 0 to 21 of about 22